EU Invests €3bn Annually In Nigeria, Creates 160,000 Jobs

In a powerful affirmation of the strengthening economic partnership between the European Union (EU) and Nigeria, the EU Council has revealed an annual allocation of a substantial €3 billion in investments into the Nigerian economy. Ambassador of the European Union to Nigeria and the Economic Community of West African States (ECOWAS), Ambassador Isopi made this announcement during her keynote address at the EuroCham Nigeria Stakeholders annual conference held in Lagos. Themed: “Sustainable Business Growth,” the conference served as a platform for crucial discussions on economic engagements between the EU and Nigeria.

Highlighting the strengthened collaboration between the EU and Nigeria, Ambassador Isopi specifically commended the efforts made under the administration of President Bola Ahmed Tinubu.

The president’s proactive measures to revitalise Nigeria’s economy and create a more investor-friendly environment were acknowledged as key factors contributing to the success of this economic partnership.

During her address, Ambassador Isopi shared the findings of a comprehensive survey conducted in collaboration with EuroCham. The survey aimed to assess the impact and presence of European businesses in Nigeria, garnering insights from over 300 companies operating in the country.

Providing notable figures, Ambassador Isopi stated, “The creation of over 160,000 decent jobs, both directly and indirectly. Yearly direct investment of over €3 billion, training and skill development of 18,000 Nigerian staff every year. And, in a testament to Nigeria’s economic potential, four out of 10 European companies established their presence here in the last decade.”

Ambassador Isopi commended the resilience and capacity of European businesses to operate in Nigeria, emphasising their role in showcasing the country’s economic potential.

She reiterated the close collaboration with EuroCham, expressing the EU’s dedication to fostering sustainable business growth in Nigeria.